Remember when we were stunned that gas prices had eclipsed $4 a gallon? Those were the days.
The unimaginable pain at the pump is expected to hit a new level of sticker shock this week as the average gas price in Massachusetts approaches $5 per gallon. Meanwhile, State House leaders on Monday reiterated that they won’t suspend the gas tax amid these staggering record-high prices.
In Suffolk County, the average for a regular gallon of gas is now a whopping $5.08, according to AAA Northeast.
“It’s a tough situation for sure,” said Mark Schieldrop of AAA Northeast. “We could reach an average of $5 a gallon this week in Massachusetts, and it just doesn’t seem like these prices are sustainable.
“These are definitely unprecedented times,” he added.
Prices at the pump have skyrocketed following the Russian invasion of Ukraine. The $4.96 a gallon is $2.03 higher than one year ago when gas was $2.93 a gallon.
The current average is 66 cents higher than a month ago ($4.30), and 23 cents more than last week ($4.73). The Bay State’s average is 10 cents higher than the national average ($4.86).
The cost of a barrel of oil is nearing $120, nearly double from last August, as increased oil demand outpaces the tight global supply. There have been major supply concerns after the U.S. and European countries banned Russian oil.
“We are very interested in numbers later this week about demand, and whether the high gas prices are causing behavioral changes,” Schieldrop said. “Anecdotally, we’re hearing that behavior is changing.
“We’re hearing that people are not filling their tanks completely, and are buying less gas,” he added. “If consumers are cutting back on fuel, then we should start to see prices cool off a little bit.”
Other states have suspended their gas taxes because of the surging gas prices, but Massachusetts State House leaders have continued to reject calls to freeze the tax.
Senate President Karen Spilka on Monday noted that Connecticut’s gas prices are similar to the Bay State’s after our southern neighbor suspended the gas tax. The average in Connecticut is now $4.89.
“There’s nothing that we can do to mandate that if we decrease or suspend the gas tax that it actually goes into the pockets of those at the pump,” Spilka told reporters. “Because the oil companies can keep that gas tax and not pass it on to individuals purchasing gas. So we are looking at other forms of assistance in tax relief for working families.”
House Speaker Ronald Mariano also said that relief from suspending the gas tax — based on what has happened in Connecticut — has “proven to be … a myth.”
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